C1 to lease or not to lease...

hueknight1969

Hi
Found a lease deal for basically 137 pounds a month. To buy a 1 yo C1 would be 8k with a resale vale of 5k two years later. Costing 125 per month. Have I got this right lol?

SeduLOUs

I've debated leasing for a while and decided against it because if I ding or scratch my car I want to retain the power to decide whether to pay for an expensive repair.

You'll be driving the C1 around for two years, and they'll expect you to return it in basically showroom condition. Any chips, scratches or dings will probably result in a hefty bill and a nice long battle about what constitutes 'fair wear and tear'.

I personally wouldn't bother but I don't know an awful lot about it.

hueknight1969

I have also wondered the same but have no experience. Could anyone who leases cars confirm or deny this is a problem on returning the vehicle?

Moto2

I've had company cars via a lease for the last 20 years or so and never had a problem.
The only time they tried anything was when they put on the form 'needs a polish'
I refused to sign the paperwork and and asked them to point out in the handbook where it says to polish it (it only said to regularly wash it with warm, soapy water)

Anyway, there's a 'Fair Wear and Tear' standard

http://www.gecapital.co.uk/en/docs/BVRLA_FWT_GECapital.pdf

SeduLOUs

I guess it's down to looking at reviews of the specific company you are going to be leasing from. Like anything else there are probably plenty of companies that do it properly (otherwise who would bother?) but there might be a few bad apples that are a complete nightmare.

hueknight1969

Wow thanks moto2 there's lots of leaway according to the link you provided. Anything that's "not allowed" and you didn't fix,Well you don't deserve to be allowed to lease!

Dr._Shoe

hueknight1969 wrote: »

Hi
Found a lease deal for basically 137 pounds a month. To buy a 1 yo C1 would be 8k with a resale vale of 5k two years later. Costing 125 per month. Have I got this right lol?

But unless you have £8 sitting around you have to finance it which could cost more than a lease. Don't forget you will have to buy out the lease or return the car at the end of the contract.

jaydeeuk1

Leasing will include tax too.

If its the deal from hotukdeals then go for it, makes far more sense than buying outright.

hueknight1969

It is indeed from hukd and after consulting on here I am going to lease this car.

Larkers

Beware of the initial payment. The deal that I spotted had a six months up-front payment, so you'll need to factor that in. Also, £5k for a three year old C1 (if it is the vehicle that I think it is) is quite optimistic.